The upcoming 2018 budget will send a clear signal about the Wynne government’s direction.
In 2016-17, the deficit was $0.991 billion but $6.276 billion was added to the net debt.
About 40 per cent of federal revenue comes from Ontario.
Since 2008/09, Ontario has seen its net debt increase every year by an average of $15.5 billion.
From 2008 to 2016, electricity prices in Ontario increased by 71 per cent.
Next year Ontario’s debt burden per person is projected to surpass Quebec’s.
Ontario’s net debt will rise to a projected $336 billion.
Higher taxes, rapid debt accumulation and soaring electricity costs have made Ontario less attractive for investment.